Contract Mechanism of “Debt-for-Nature” Exchange

The article analyzes “Debt-for-Nature Swaps” concluded by the states of North America, Latin America, Europe, Africa and Southeast Asia. The characteristic features of three types of “Debt-for-Nature Swaps” ‒ commercial or three-party, bilateral and multilateral ‒ are examined. The legal content of the principle of permanent sovereignty of states over their natural resources is explained and it is concluded that “Debt-for-Nature Swaps”, not only do not contradict this principle, but on the contrary, contribute to its implementation in practice. The ways, suggested by the authors, how further improve “Debt-for-Nature Swaps” include, inter alia, the spread of their application to the spheres of sanitation, water supply, infrastructure development, the mechanisms of combating global climate change.